Recent media buzz about tech layoffs at Coinbase or other tech businesses gives us an excellent opportunity to think about what it will take to stay marketable in the cybersecurity industry. Even though CompTIA reports that the “projected growth rate for tech jobs over the next decade is nearly twice the national jobs rate,” open jobs don’t guarantee landed ones. The Wall Street Journal bills recent layoffs in a positive light for some, such as “The Tech Crash Could Be Talent Bonanza for Big Tech,” or “Tech Layoffs Might Ease IT Hiring Woes.”
These are positive developments for HR and big tech companies that have been stressed by the high demand for IT or cybersecurity professionals. Miguel Angulo, Security Engineer & Evangelist at Check Point Software, says, “High demand for cyber security professionals makes it difficult to meet salary requirements. Small business are exposed to the same threats as enterprise companies, and yet can’t offer high enough pay to attract high-skilled cyber security workers.” Perhaps this will result in better opportunities for small businesses to snatch up cybersecurity professionals, which will mean both large and small companies could profit from the recent upheaval.
For the cybersecurity professional, however, it may be time to upskill. Here’s why:
- Recent layoffs mean higher levels of experience re-entering the applicant pool. While overall, the hiring demand for cybersecurity or IT professionals hasn’t lessened, there are now more applicants who may have a broader range of capabilities. As a result, businesses, large or small, will choose the candidate with more skill.
- Ransomware attacks are increasing dramatically. Cybersecurity threats are getting more intense, and according to Verizon’s 2022 Data Breach Investigation Report, ransomware attacks have ramped up in frequency – greater than the past five years put together. Cybersecurity professionals must be ready and capable of defending against increasingly common ransomware attacks, no matter the size of their organization.
- It’s the season to make a change. Since the COVID-19 pandemic, employees everywhere are taking stock of their lives and their jobs. For some, this means quitting and joining ‘The Great Resignation.’ For others, it might mean taking the step to pursue a promotion or your dream job. While the title of the Wall Street Journal article ‘Tech Layoffs Might Ease IT Hiring Woes’ sounds like opportunities for advancement are swiftly closing, that’s just not the case—they acknowledge that the hiring demand isn’t lessening.
According to Cyber Seek, there are 714,548 open cybersecurity positions nationally. 24,408 of those are in North Carolina alone. Use that information as reassurance that you are needed and take the step to upskill to become the best cybersecurity professional you can be.